Silverjet shares suspended after it didn't receive loan

SimonKennedy

LONDON (MarketWatch) -- Business-class airline Silverjet
uk:sil
said Friday that it asked the London Stock Exchange to suspend trading in its shares after it didn't receive cash it had tried to draw down under a loan facility. The group said its Silverjet Aviation arm served notice to draw down $5 million under a loan facility with Viceroy Holdings on May 2, but hasn't received the money. "Silverjet's working capital reserves are limited and advances under the loan facility are required as a matter of urgency," the company said. "Silverjet continues discussions with other parties, which have confirmed an interest in investing in the company," it added. In the meantime, the company's service are continuing to run as scheduled.

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